The Gift of Travel
For travel companies, there is a tremendous opportunity to tap into consumers’ desire to travel as a way of boosting revenue this holiday season. With half of consumers planning to gift travel and experiences, the potential for increased revenue is significant. The survey found that six in 10 consumers plan to buy travel and experiences as gifts for loved ones this holiday season. However, there’s a catch. The complexity of booking processes and the sheer number of choices risks putting many consumers off.
The Complexity of Gifting Travel
Gifting travel and experiences can involve sifting through a vast array of information, claims, ads and reviews, requiring a multitude of decisions that can leave consumers feeling overwhelmed. According to the Holiday Survey, more than a third of consumers are put off by the need to confirm the exact date and time of travel, and 29% are put off by needing to have specific details about the traveler in order to book. Then there’s the difficulty in making changes to the itinerary (21%), and administrative issues from being the booker but not the traveler (17%). In response, travel companies should focus on simplifying the process of gifting travel, making it as easy and intuitive as possible.
Technology Helps Beat Buyers’ Block
The challenges don’t stop at the complexity of booking. The survey also found that six in 10 consumers don’t know where to start when it comes to holiday shopping, and nearly seven in 10 are worried they’ll make the wrong purchasing decision and regret it. The result? The majority (82%) say they will abandon their shopping carts due to frustration or indecision, and a third (29%) will shop elsewhere. With more than eight in 10 shoppers wishing they could make decisions on what to buy more quickly, easily, and confidently, and nearly three-quarters welcoming inspiration, travel companies have a real opportunity to differentiate themselves.
To capitalize on this opportunity, travel companies need to address the challenges that are putting consumers off. This means simplifying the booking process, providing flexible travel options, and guiding consumers through the decision-making process.
This is where technology can help. Generative AI (gen AI) can be used to streamline the booking process and making it quicker and easier for consumers to purchase travel gifts.
The future of travel gifting
The holiday season presents a chance for travel companies to tap into the growing trend of gifting travel and experiences. To succeed, companies must focus on simplifying the booking process and creating a seamless, customer-centric experience across all touchpoints— from advertising and booking to the travel experience itself. By doing so, they can ensure that gifting travel becomes an effortless and inspiring process, attracting both new customers and encouraging repeat business for years to come.
